Most Popular
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Korea’s homegrown nanosatellite successfully launches into space
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Nicaragua shuts down Seoul embassy
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Hybe's multilabel system tested amid conflict with Ador
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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SNU profs to suspend treatment for one day
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SK hynix pledges W20tr to ramp up DRAM production at home
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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Pianist Cho Seong-Jin named Berlin Philharmonic's artist-in-residence
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Tokyo stocks down more than 3% by break, extending global slump
TOKYO (AFP) - Tokyo stocks slumped more than three percent Wednesday morning, extending a drop on global markets as a stronger yen hit exporters and falling oil prices reignited worries about the world economy.As the euphoria of Friday's Bank of Japan stimulus faded, oil's fresh collapse below $30 a barrel hammered energy shares and investor confidence."Since the BoJ cut last week, markets have been on edge, concerned that the global situation is considerably worse than initially envisaged and t
Feb. 3, 2016
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Oil prices could jump 50% by end of 2016
Oil bulls distressed that last week’s rally fizzled can find some comfort in forecasts for a bigger and longer rebound by the end of the year.Analysts are projecting prices will climb more than $15 by the end of 2016. New York crude will reach $46 a barrel during the fourth quarter, while Brent in London will trade at $48 in the same period, the median of 17 estimates compiled by Bloomberg this year show. A global surplus that fueled oil’s decline to a 12-year low will shift to deficit as U.S. s
Feb. 3, 2016
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Oil prices rally more than 4%
Oil prices leaped from 12-year lows Thursday, lifted by a swing to optimism on equity markets after steep losses since the beginning of the year.US benchmark West Texas Intermediate for March jumped $1.18 (4.2 percent) to $29.53 a barrel on the contract's first day of trade on the New York Mercantile Exchange.Brent North Sea crude for delivery in March, the European benchmark, finished at $29.25 a barrel in London, a gain of $1.37 (4.9 percent) from Wednesday's settlement.On Wednesday, both cont
Jan. 22, 2016
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Russia volatility soars as oil below $30 dims investor outlook
The largest exchange-traded fund tracking Russian equities has made the worst start to a year on record with over 50 percent of the stocks the ETF holds losing more than 10 percent so far in 2016.The Market Vectors Russia ETF advanced 1.9 percent to $12.42 on Thursday, narrowing its loss this year to 15 percent. The ETF’s price swings, with daily losses reaching as much as 7 percent, have pushed its historical volatility to levels unseen since the global equity rout in late August.“Selloffs are
Jan. 22, 2016
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Anxiety in the air as Davos World Economic Forum kicks off
DAVOS, Switzerland (AP) -- A prevailing sense of anxiety was in the air in the Swiss ski resort of Davos as the World Economic Forum kicked off Wednesday with delegates fretting about the turbulence in financial markets, slowdown in China and plunging oil prices. As global stock markets suffered another day of hefty losses and oil prices sank to fresh 12-year lows, there was a high degree of concern about the outlook for the global economy this year. High on the agenda was plunging oil price
Jan. 20, 2016
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Oil dives to fresh 12-year low under $28
LONDON (AFP) - Oil plunged to fresh 12-year lows under $28 on Wednesday, slammed by gloomy economic forecasts, China‘s slowdown and abundant crude supplies. In morning deals, US benchmark West Texas Intermediate (WTI) for February delivery tanked to $27.32 per barrel, a level last seen on September 24, 2003. The contract later stood at $27.80, down 66 cents from Tuesday’s closing level. The global oil market has collapsed further since the International Energy Agency warned Tuesday that the oil
Jan. 20, 2016
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Renault recalls vehicles over failed emissions test
Renault is recalling thousands of new vehicles to make engine tweaks, the government said Tuesday, as the French carmaker grapples with emission levels found to exceed anti-pollution norms in some of its cars.France's second biggest auto manufacturer -- in which the French state owns nearly 20 percent -- has been under the spotlight since it emerged last week that anti-fraud investigators had raided several of the company's sites, sending stocks plunging.Amid fears Renault could be caught up in
Jan. 19, 2016
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Global anxiety rises as China growth falls
China's economic growth slowed to a six-year low in the latest quarter as trade and consumer spending weakened, deepening a downturn that has fueled anxiety abroad over its impact on an uncertain global outlook. The world's second-largest economy grew by 6.8 percent in the October-December quarter, down from the previous quarter's 6.9 percent, data showed Tuesday. That dragged full-year growth to a 25-year low of 6.9 percent. A port in Chungqing, China. (Yonhap)Growth has fallen steadily over
Jan. 19, 2016
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China to take up half of global smartphone market
One out of 2 smartphones to be sold in the global market is expected to be made by Chinese companies, posing a serious threat to current market leaders Samsung Electronics and Apple, a report showed Sunday. A total of 1.29 billion smartphones were sold last year across the world in 2015, up 10.3 percent from a year earlier, according to tech market researcher DRAMeXchange.South Korean tech giant Samsung Electronics accounted for 24.8 percent of the market share, followed by its U.S. archrival Ap
Jan. 17, 2016
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China's Haier buying GE appliance unit for $5.4 billion
BEIJING -- Haier Group, the world’s biggest home appliance maker, is buying General Electric Co.‘s appliance business for $5.4 billion to expand its U.S. and global presence. The acquisition announced Friday comes as Haier tries to transform itself into a premium brand. GE is shifting emphasis from traditional businesses such as appliances, in which it has been a prominent presence for more than a century, to higher-technology areas such as medical equipment and clean energy. Haier headquarters
Jan. 15, 2016
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Tokyo stocks plunge by break after Wall St dive
TOKYO (AFP) - Tokyo stocks plunged Thursday morning after a dive on Wall Street while a pick up in the yen took a bite out of exporters like Toyota and factory robotics giant Fanuc.The Japanese market led a regional sell-off, plunging almost four percent at the start, as jittery investors reacted to another drop in oil prices and a lukewarm Federal Reserve regional economies report. Renewed jitters about the world's top economy and broader concerns about global growth pushed currency traders int
Jan. 14, 2016
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China's market turmoil: Worry, but don't panic
NEW YORK (AP) -- There's no reason for panic. Worry, yes, but not panic.That was the opinion of some U.S. investment strategists after another free-fall on China's main stock market reverberated around the globe Thursday and sent the Dow Jones average to a loss of nearly 400 points.Stock prices in China fell so fast that for the second time in four days, circuit-breaker mechanisms kicked in and halted trading, this time after just 30 minutes.China's tumbling stock prices are, in themselves, noth
Jan. 8, 2016
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Oil extends losses, nears $33 a barrel
SINGAPORE (AFP) - Oil prices plunged close to $33 a barrel on Thursday as crude extended losses on rising US energy stockpiles and China's weakening currency.At 0230 GMT, US benchmark West Texas Intermediate (WTI) for February delivery was down 60 cents at $33.37.Its close of $33.97 a barrel on the New York Mercantile Exchange on Wednesday marked the lowest settlement price since December 2008 during the global financial crisis.In London, Brent crude for February delivery, the European benchmark
Jan. 7, 2016
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Chinese stock markets closed after shares fall 7%
SHANGHAI (AFP) - China stock markets closed for the day less than half an hour after opening Thursday when shares fell more than seven percent, triggering an automatic "circuit breaker", after authorities lowered the yuan's value by the most since August.By 9.58am, when trading was halted, the benchmark Shanghai Composite Index had slumped 7.32 percent, or 245.95 points, to 3,115.89.The Shenzhen Composite Index, which tracks stocks on China's second exchange, had tumbled 8.35 percent, or 178.08
Jan. 7, 2016
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Chinese stock markets closed after shares fall
Chinese stock markets closed after shares fall 7%SHANGHAI (AFP) -- Chinese authorities for the first time closed the Shanghai and Shenzhen stock exchanges early under a “circuit breaker” mechanism to curb volatility after shares fell seven percent Monday, raising concern over their commitment to market openness.China‘s stock indices plummeted in mid-2015 as a debt-fuelled bubble burst, sending ripples through global exchanges and wiping trillions from market capitalizations.The falls prompted wi
Jan. 4, 2016
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China manufacturing picks up but activity still shrinking: data
A gauge of Chinese factory activity ticked up slightly in December but continued to indicate contraction for a fifth straight month, official data showed Friday, underlining weakness in the world's second-largest economy. China is a key driver of global growth and investors closely watch the Purchasing Managers' Index -- which tracks activity in the factories and workshops sector -- as a barometer of the country's economic health. The mild improvement follows a string of stimulus measures
Jan. 1, 2016
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Sun King Li Sees $14.6 Billion Vanish Amid Wild Ride for Hanergy
This year’s wild ride for Hanergy Thin Film Power Group Ltd. ends with the solar equipment maker a shadow of its former self, about $14.6 billion in paper losses for its chairman, the departure of key executives, a lawsuit over unpaid rent, canceled contracts and a regulatory investigation.Chairman Li Hejun, the leader of the solar group and a self-professed solar visionary, stands, as usual, at the center. According to regulatory filings made public this week, Li has agreed to sell a 6 percent
Dec. 30, 2015
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Four more years of cheap oil: OPEC
VIENNA (AFP) - The OPEC oil cartel sees only a gradual improvement in the global crude market, with prices recovering to above $70 per barrel after four years, according to a report released Wednesday.With the global benchmark oil price touching an 11-year low of $36.04 on Monday, the cartel which produces a third of the world's crude said that it foresees a "gradual improvement in market conditions as growing demand and slower than previously expected non-OPEC supply growth eliminate the existi
Dec. 24, 2015
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Cordon Bleu culinary schools to close in U.S.
NEW YORK -- The Cordon Bleu culinary school will close its 16 campuses in the United States after failed attempts to find the right buyer, the company that operates the locations said.Created in 1895, France's Le Cordon Bleu presents itself as the world's largest network of culinary and hospitality schools.Career Education Corporation -- a company independent from Le Cordon Bleu International -- said in a statement that it was slowly discontinuing the operations of Le Cordon Bleu North America a
Dec. 18, 2015
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BOJ tweaks stimulus to encourage corporate spending, hiring
The Bank of Japan tweaked its lavish stimulus program Friday in a well-timed move that spotlights pressures on companies to do more to support growth by raising wages and investing in factories and equipment. The Japanese national flag flies atop the Bank of Japan headquarters in Tokyo, Japan, on Friday. (Bloomberg)This week, the U.S. central bank raised its key interest rate by a quarter percentage point, signaling confidence in the U.S. recovery at a time when Japan is still struggling to re-i
Dec. 18, 2015